REG - Resolute Mining Ltd - Doropo Final Investment Decision Approved

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RNS Number : 3182W  Resolute Mining Limited  12 March 2026

12 March 2026

 

Final Investment Decision Approval

for Doropo Gold Project

 

Resolute Mining Limited ("Resolute" or "the Company") (ASX/LSE: RSG), the
Africa-focused gold miner, is pleased to announce that it has formally
approved the Final Investment Decision ("FID") for its Doropo Gold Project
("Doropo" or "the Project") in Côte d'Ivoire, marking a transformational step
towards construction and production.

 

Reaching a positive FID on Doropo advances Resolute's goal of becoming a
leading multi-asset gold producer in West Africa. This milestone underpins the
Company's strategy to grow annual gold production above 500 koz by the end of
2028 and validates the Company's commitment to disciplined growth and
generating shareholder value.

 

The decision follows the completion of extensive technical, economic,
environmental, and social evaluations, as well as receipt of the mining permit
from the Council of Ministers in Côte d'Ivoire, confirming the Project's
robust economics, technical viability, and alignment with the Company's
long-term growth strategy. The Project is expected to become a cornerstone
asset within the Company's development pipeline, with construction due to
commence in H1 2026.

 

The development of Doropo supports production over an initial mine life of
approximately 13 years, with potential opportunities for expansion and value
creation throughout the region.

 

 

Chris Eger, Managing Director and CEO commented:

"This Final Investment Decision represents an important growth milestone for
Resolute that advances our strategy to become a diversified gold producer, on
track to achieve annual production of over 500 koz by the end of 2028. This
decision reflects the quality of the Doropo Gold Project, the robustness of
our technical work, and our confidence in the operating environment. We expect
the Project to generate significant shareholder value whilst delivering
enduring benefits to host communities and national partners."

 

Next Steps

Resolute will enter the construction phase of Doropo from a position of
balance sheet strength with a net cash position of US$209 million as at 31
December 2025. As the Project advances, Resolute will continue to evaluate all
funding options, in the context of prevailing market conditions, to maintain
its balance sheet flexibility and as additional growth initiatives are
identified.

 

Figure 1: Approximate Project Timeline

 

Doropo DFS Highlights

Doropo is situated in the Bounkani Region of Côte d'Ivoire, approximately 480
km northeast of Abidjan and 50 km north of Bouna, near the Burkina Faso
border. Table 1 includes operational and financial highlights for the updated
DFS released in December 2025 at a US$4,000/oz gold price assumption.

 100% Basis                                 Units   Value
 Mine Life                                  Years   13
 LOM ore processed                          kt      59,102
 LOM strip ratio                            w:o     4.9
 LOM feed grade processed                   Au g/t  1.31
 LOM gold recovery                          %       88%
 LOM gold production                        koz     2,196
 Upfront capital cost                       US$M    516
 Life of Mine average (during production):
 Gold, average annual production            koz     169
 AISC per ounce                             US$/oz  1,472
 EBITDA                                     US$M    438
 Project Free Cash Flow (post-tax)          US$M    318
 Project years 1 to 5:
 Gold, average annual production            koz     204
 AISC per ounce                             US$/oz  1,360
 EBITDA                                     US$M    554
 Project Free Cash Flow (post-tax)          US$M    419
 Post-Tax Economics
 Net present value - 5%                     US$M    2,543
 Internal Rate of Return                    %       72%
 Payback period (from first production)     Years   1.1

Table 1: Economic Summary

The post-tax NPV (100% basis) sensitivity comparing varying discount rate
percentages and gold price is presented in Table 2.

      $3,000  $4,000  $5,000
 5%   1,457   2,543   3,629
 7%   1,245   2,202   3,159
 10%  988     1,789   2,590

Table 2: Sensitivity of post-tax NPV (US$M) to Discount Rate and Gold Price
(US$/oz)

 

Contact

 Resolute                                                                   Public Relations

 Matthias O'Toole-Howes                                                     Jos Simson, Tavistock

 motoolehowes@resolutemining.com (mailto:motoolehowes@resolutemining.com)   resolute@tavistock.co.uk (mailto:resolute@tavistock.co.uk)

 +44 203 3017 620                                                           +44 207 920 3150

                                                                            Corporate Brokers

                                                                            Jennifer Lee, Berenberg

                                                                            +44 20 3753 3040

                                                                            Tom Rider, BMO Capital Markets

                                                                            +44 20 7236 1010

 

Authorised by Mr Chris Eger, Managing Director and Chief Executive Officer

 

 

 

 

 

 

 

Competent Person Statement

The information in this announcement that relates to Mineral Resources and Ore
Reserves is extracted from the Company's market announcement titled "Updated
Doropo DFS" released to ASX on 15 December 2025.

The Company confirms that it is not aware of any new information or data that
materially affects the information included in that announcement and, in the
case of estimates of Mineral Resources or Ore Reserves, that all material
assumptions and technical parameters underpinning the estimates in the
relevant market announcement continue to apply and have not materially
changed.

The Company confirms that the form and context in which the Competent Person's
findings are presented have not been materially modified from the original
market announcement.

Cautionary Statement about Forward-Looking Statements

This announcement contains certain "forward-looking statements" including
statements regarding our intent, belief or current expectations with respect
to Resolute's business and operations, market conditions, results of
operations and financial condition, and risk management practices. The words
"likely", "expect", "aim", "should", "could", "may", "anticipate", "predict",
"believe", "plan", "forecast" and other similar expressions are intended to
identify forward-looking statements. Indications of, and guidance on, future
earnings, anticipated production, life of mine and financial position and
performance are also forward-looking statements. These forward-looking
statements involve known and unknown risks, uncertainties and other factors
that may cause Resolute's actual results, performance and achievements or
industry results to differ materially from any future results, performance or
achievements, or industry results, expressed or implied by these
forward-looking statements. Relevant factors may include (but are not limited
to) changes in commodity prices, foreign exchange fluctuations and general
economic conditions, increased costs and demand for production inputs, the
speculative nature of exploration and project development, including the risks
of obtaining necessary licences and permits and diminishing quantities or
grades of reserves, political and social risks, changes to the regulatory
framework within which Resolute operates or may in the future operate,
environmental conditions including extreme weather conditions, recruitment and
retention of personnel, industrial relations issues and litigation. The
production target in the updated DFS contains no Inferred Mineral Resources.
To the extent a production target is based on those Inferred Mineral
Resources, there is a low level of geological confidence associated with
Inferred Mineral Resources and there is no certainty that future exploration
work will result in the determination of inferred mineral resources or that
the production target itself will be realised.

Forward-looking statements are based on Resolute's good faith assumptions as
to the financial, market, regulatory and other relevant environments that will
exist and affect Resolute's business and operations in the future. Resolute
does not give any assurance that the assumptions will prove to be correct.
There may be other factors that could cause actual results or events not to be
as anticipated, and many events are beyond the reasonable control of Resolute.
Readers are cautioned not to place undue reliance on forward-looking
statements, particularly in the current economic climate with the significant
volatility, uncertainty and disruption caused by the COVID-19 pandemic.
Forward-looking statements in this document speak only at the date of issue.
Except as required by applicable laws or regulations, Resolute does not
undertake any obligation to publicly update or revise any of the
forward-looking statements or to advise of any change in assumptions on which
any such statement is based. Except for statutory liability which cannot be
excluded, each of Resolute, its officers, employees and advisors expressly
disclaim any responsibility for the accuracy or completeness of the material
contained in these forward-looking statements and excludes all liability
whatsoever (including in negligence) for any loss or damage which may be
suffered by any person as a consequence of any information in forward looking
statements or any error or omission.

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